SUBSCRIBER NOTE: Platts guidelines around Chicago pipeline MOC

S&P Global Platts wishes to remind market participants that in its US Chicago pipeline oil products Market on Close assessment process it considers bids and offers that are executable under normal conditions and reflect typical trading practices.

Platts publishes bids, offers and intentions to trade in its Chicago MOC process for Wolverine, West Shore and Badger pipelines for gasoline, jet fuel and ULSD.

Platts has observed in the Chicago refined products market that the origin point on a pipeline trade is typically nominated by the seller. Origins must be considered reasonable by standard market convention. Platts may review any information helpful in establishing market convention.

All bids and offers published in the MOC process must be open to the market and transactable. Therefore bids/offers published for a pipeline on a cycle must have a valid batch available for pumping that particular product.

Platts will review all positions published in the MOC and will not publish any information when there is uncertainty around the fungibility of the published bid/offer. Platts may review the participation status of any entity that publishes information out of line with Platts' editorial guidelines.

Platts may track all aspects of performance on trades reported during its MOC assessment process. Platts not only focuses on the performance of the transaction at the time of trade, but also on any significant issues stemming from such trades, including logistics and eventual delivery.

Trades executed through the MOC assessment process may be reviewed from time to time for performance completion. Platts therefore may request documentary material to determine performance and validity. MOC trades may be subject to Platts editorial review to ensure market practices and performance in the transaction have been followed.

Please send any comments or questions to americas_products@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.